It is late 1999 and you are a successful oil executive currently working in Alaska for a major oil company. Tomorrow morning you will have the opportunity to negotiate with your employer to receive some amount of deferred salary in 5 years in exchange for $ 75,000 of your year 2000 compensation. If this compensation is not deferred, it will be paid to you on December 31, 1999, as a year- end bonus. Both you and your employer can earn a before- tax rate of return of 12%. Your employer